Malaysia’s state oil firm Petroliam Nasional Berhad (Petronas) on May 19 announced its second gas discovery this year within the Balingian Province off the coast of Sarawak state.
Petronas said the discovery was made in the Kulintang-1 wildcat exploration well of Block SK438, located in the shallow waters of Balingian Province.
The well encountered gas in the Oligocene to Middle Miocene sandstone reservoirs, which had not been fully evaluated before, the company said.
“This encouraging result proves further potential of sweet gas in the province, especially in the deeper Oligocene play,” said Mohamed Firouz Asnan, Petronas senior vice president of Malaysia Petroleum Management.
Petronas announced a new oil and gas discovery in the Sirung-1 wildcat exploration well in Block SK405B, also in the Balingian Province, in March.
Recommended Reading
Halliburton’s Low-key M&A Strategy Remains Unchanged
2024-04-23 - Halliburton CEO Jeff Miller says expected organic growth generates more shareholder value than following consolidation trends, such as chief rival SLB’s plans to buy ChampionX.
Vår Selling Norne Assets to DNO
2024-05-08 - In exchange for Vår’s producing assets in the Norwegian Sea, DNO is paying $51 million and transferring to Vår its 22.6% interest in the Ringhorne East unit in the North Sea.
SLB OneSubsea JV to Kickstart North Sea Development
2024-05-07 - SLB OneSubsea, a joint venture including SLB and Subsea7, have been awarded a contract by OKEA that will develop the Bestla Project offshore Norway.
Exclusive: XCL Increases Production Amidst Lookout for More Inventory
2024-06-07 - XCL Resources is beginning its journey to acquire Altamont Energy, but in the meantime, the company is refining its operations in the Uinta Basin to find the perfect lateral length.
Sea Power: Noble’s Deal Fires Major Volley in Offshore, Services M&A
2024-06-14 - Noble Corp.’s $1.6 billion acquisition of Diamond Offshore Drilling may seem like small potatoes compared to the upstream sectors’ massive megadeals, but service sector consolidation could snowball, analysts said.